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What did God say when he created actuaries? He scratched his head and said “Go figure!” They took him literally. Jokes aside, actuaries calculate the percentage that the insurance company covers versus what you cover. So an 80/20 plan means they pay 80% of expenses and you pay 20%. That’s the (very) short answer.
This model of health insurance — a government-run health care program — creates one source of payment to providers, which could be State or Federal. The State or Feds would collect (a lot of!) taxes and federal funds then they decide how to distribute payment to providers of medical services, and they control when you… Continue reading Single Payer
This is the only exception to the Open Enrollment rule. If you have a QLE, you have a 60 day SEP to buy new individual health insurance or make changes to your existing plan. Examples of QLE’s include marriage, divorce, birth of a child, moving to a new state, recent immigration to the US, loss… Continue reading SEP/QLE (Special Enrollment Period / Qualifying Life Event)
This is the only exception to the Open Enrollment rule. If you have a QLE, you have a 60 day SEP to buy new individual health insurance or make changes to your existing plan. Examples of QLE’s include marriage, divorce, birth of a child, moving to a new state, recent immigration to the US, loss… Continue reading QLE/SEP (Qualifying Life Event / Special Enrollment Period)
Under the guidelines of the Affordable Care Act (ObamaCare), this is the ONLY time of the year people can buy new individual health insurance or make changes to their existing plan. Right now, those dates are November 1st through January 31st of every year, but for plans starting January 1st and later.
This is a universal health insurance model in which the federal Medicare program expands to cover everyone, but still allows for the purchase of private insurance to help supplement the coverage.
Line 37 on your 1040 tax form. This is the income that determines whether or not you’re eligible for a federal subsidy to help pay for your individual health insurance. In short, it’s your income after expenses but before taxes. Simple.